Furthermore, given that the company generates 59% of its sales outside the United Kingdom, the impact of decline in consumer confidence and retail spending that has affected Britain in the wake of the Brexit vote is likely to be minimal.
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ASOS has posted total group revenues of £514.6m in the four months to 30 June 2016, a growth of 30% year on year.
But the group blamed a 180 basis-point fall in its retail gross margin partly on moving its main sale forward one week into this financial period.
ASOS, which stands for As Seen On Screen, said full year sales are now expected to be at the top end of its forecasts for between 20 per cent and 25 per cent growth.
Overall retail sales in the period rose 30% or 26% at constant currencies.
Chief executive Nick Beighton said today that sales growth to date had been underpinned by investment in both price and proposition.
The group signalled further moves to keep prices down.
“We now anticipate full year sales growth at the upper end of the 20 to 25% range”, he said, as he said the company was confident of delivering pre-tax profits in line with market expectations.
In April ASOS booked an 18 per cent hike in first-half profits to £21.2 million for the six months to February 29.
Shares in ASOS were up 3.5 per cent in early Tuesday trading.
In May, ASOS shut down its China website and said the operating losses and closure costs were at around £10 million.
He also confirmed he would keep cutting prices, thanks to the expected boost from the weak pound, which will make clothes cheaper for overseas shoppers.
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That will give Asos a “greater sales trajectory” and allow it to offset rising costs of materials like cotton (priced in dollars) and reinvest in lower prices, he added.
